Aliassmith Beats a "Dead Horse"

[JESGPY]

When you see how much can be made and how fast, it plays with your head.

Its hard to realize that we can make more than any business playing it "safe", but we want more and want it FAST!


What happens to you I think is what happens to all billionaire entrepenuers. Money, or return, is becomes a scoreboard.

Over time I think as I strive to get the most possible return on capital, I added more and traded longer. Overall I gave my self a full time job some days.

I had a way to make all the money I ever needed but my ego created a challenge or competition to add zeroes and be a perfect trader.

Although I love trading I feel that it might be time to go back to basics. Working with PRO recently made me think I should make my life simple and take my own advice.

Trade 1 currency pair - EURUSD (I get between .4 to .8 pip spreads)

Trade 1 timeframe - I'll look at M1 and M5 for triggers

Make the mathematics/statistics work based on 65% accuracy.

My trade type will be scalping based on micro supply/demand areas which includes zlines and pin bars and market structure.

Take profit will be based on order flow and trying to average better than a 1.25 RRR.

Money Management will be 15 pips equals 1% and be my daily max loss.

A pic from the good ole days when I learned how to scalp in 2010.

[aliassmith]

When you see how much can be made and how fast, it plays with your head.

Its hard to realize that we can make more than any business playing it "safe", but we want more and want it FAST!


What happens to you I think is what happens to all billionaire entrepenuers. Money, or return, is becomes a scoreboard.

Over time I think as I strive to get the most possible return on capital, I added more and traded longer. Overall I gave my self a full time job some days.

I had a way to make all the money I ever needed but my ego created a challenge or competition to add zeroes and be a perfect trader.

Although I love trading I feel that it might be time to go back to basics. Working with PRO recently made me think I should make my life simple and take my own advice.

Trade 1 currency pair - EURUSD (I get between .4 to .8 pip spreads)

Trade 1 timeframe - I'll look at M1 and M5 for triggers

Make the mathematics/statistics work based on 65% accuracy.

My trade type will be scalping based on micro supply/demand areas which includes zlines and pin bars and market structure.

Take profit will be based on order flow and trying to average better than a 1.25 RRR.

Money Management will be 15 pips equals 1% and be my daily max loss.

A pic from the good ole days when I learned how to scalp in 2010.

I agree. You see some awesome trader posting 100% returns. It might be real it may not be, but now those thoughts roll around in your head and your scoreboard changes. I see Bill doing 100% now im a lesser trader if I can't do the same.

People should grade themselves more vs themselves and mainstream investment avenues.

[LeMercenaire]

Only one opportunity to get any Dead Horse rides in today and it just about made the target.

EURAUDM15onlyDeadHorseToday2ndOct2020justhitTP1.png (53.16 KiB) Viewed 2284 times

[aliassmith]

I went back to scalping only the past 2 sessions for about 4 hours. I made money but I remembered something important.

I remembered that basically I am a machine and to function I need a driver inside to do what needs to be done.

So inside my brain are miniature drivers waiting to take control. Well one of the driver's name is EGO. He isn't a bad trader but he isn't the best scalper. There is however a driver in there I call GAS (Genius Awesome Scalper).

Well EGO likes to drive but GAS is sitting back kindof passive. When it comes to scalping he tries to tell EGO what to do but EGO thinks he knows better.

The thing is if I can get GAS to drive, my scalping is ridiculous. He has been stubborn so far but once I get him ready we'll be performance ready.

EGO can go take a break for awhile!

[aliassmith]

I went back to scalping only the past 2 sessions for about 4 hours. I made money but I remembered something important.

I remembered that basically I am a machine and to function I need a driver inside to do what needs to be done.

So inside my brain are miniature drivers waiting to take control. Well one of the driver's name is EGO. He isn't a bad trader but he isn't the best scalper. There is however a driver in there I call GAS (Genius Awesome Scalper).

Well EGO likes to drive but GAS is sitting back kindof passive. When it comes to scalping he tries to tell EGO what to do but EGO thinks he knows better.

The thing is if I can get GAS to drive, my scalping is ridiculous. He has been stubborn so far but once I get him ready we'll be performance ready.

EGO can go take a break for awhile!

I'm not going to be posting all my trades or daily totals. I will however say that I did scalp about 33 pips on a Friday. I feel that if GAS was behind the wheel it would have been about 50% more.

I dont alway agree with TRO, but when it comes to scalping and stacking pips being a Yale student is not the best path.

Hey TRO don't let that go to your head.
Or I'll post squiggly lines in your thread.

[pablo101]

I went back to scalping only the past 2 sessions for about 4 hours. I made money but I remembered something important.

I remembered that basically I am a machine and to function I need a driver inside to do what needs to be done.

So inside my brain are miniature drivers waiting to take control. Well one of the driver's name is EGO. He isn't a bad trader but he isn't the best scalper. There is however a driver in there I call GAS (Genius Awesome Scalper).

Well EGO likes to drive but GAS is sitting back kindof passive. When it comes to scalping he tries to tell EGO what to do but EGO thinks he knows better.

The thing is if I can get GAS to drive, my scalping is ridiculous. He has been stubborn so far but once I get him ready we'll be performance ready.

EGO can go take a break for awhile!

I'm not going to be posting all my trades or daily totals. I will however say that I did scalp about 33 pips on a Friday. I feel that if GAS was behind the wheel it would have been about 50% more.

I dont alway agree with TRO, but when it comes to scalping and stacking pips being a Yale student is not the best path.

Hey TRO don't let that go to your head.
Or I'll post squiggly lines in your thread.

Give more context, 33 pips in how many trades?

TRO bangs on about 20 pips a day. Very wise words.

[aliassmith]

I went back to scalping only the past 2 sessions for about 4 hours. I made money but I remembered something important.

I remembered that basically I am a machine and to function I need a driver inside to do what needs to be done.

So inside my brain are miniature drivers waiting to take control. Well one of the driver's name is EGO. He isn't a bad trader but he isn't the best scalper. There is however a driver in there I call GAS (Genius Awesome Scalper).

Well EGO likes to drive but GAS is sitting back kindof passive. When it comes to scalping he tries to tell EGO what to do but EGO thinks he knows better.

The thing is if I can get GAS to drive, my scalping is ridiculous. He has been stubborn so far but once I get him ready we'll be performance ready.

EGO can go take a break for awhile!

I'm not going to be posting all my trades or daily totals. I will however say that I did scalp about 33 pips on a Friday. I feel that if GAS was behind the wheel it would have been about 50% more.

I dont alway agree with TRO, but when it comes to scalping and stacking pips being a Yale student is not the best path.

Hey TRO don't let that go to your head.
Or I'll post squiggly lines in your thread.

Give more context, 33 pips in how many trades?

TRO bangs on about 20 pips a day. Very wise words.

I'm not looking at it right now, but I believe it was
2 BE
2 losses
5 profits
smallest was about 5 pips largest was about 12

I Was a little rusty. I was trying to set targets instead of watching the orderflow/price action. The 2 BE should have been another 10 pips.

[prochargedmopar]

It's why you may 90% of the time eat grass-fed, Japanese-raised prime beef patties...but once in a blue moon, a Mickey-D's will do just fine!

I'm on keto so 90% of my diet is beef. I prefer a good Ribeye or PrimeRib. No Royale with cheese for me.

I'll take that cheese please.
Ain't got nuthin against dairy as long is it's not milk. (weight gainer).

[prochargedmopar]

EURUSDM1
Short at a 50% retrace. I risked 2.5 pips.
Trading off the M1 and looking at the M5 also, I feel I can get away with about 2.5 pips risk.
That doesn't mean I am increasing my size. What it means is I can control my stats by having a better RRR.
If I'm risking 2.5 pips and I'm gaining 2+ pips per gain then my average win will be more than my average loss.
This works out better I can still scalp and have the math on my side. If I only have 60% accuracy I can still come out ahead.

For this type Of trading I would make my size based on 20 pips equals 1% or maybe 10 pips equals 1%. I really depends on market ranges.
There are other factors to consider with this method such as spread and leverage. It's tougher to do this with Oanda's 1.5 pips spread on the EURUSD.
Better suited to trade M5 for Oanda in my opinion.

What I've been unable to do until recently.
Use HTF for levels/setups and lower for entries.
Pretty amazing the RR that will be granted on small tf like m1 when looking at something of m15 or larger.

[aliassmith]

EURUSDM1
Short at a 50% retrace. I risked 2.5 pips.
Trading off the M1 and looking at the M5 also, I feel I can get away with about 2.5 pips risk.
That doesn't mean I am increasing my size. What it means is I can control my stats by having a better RRR.
If I'm risking 2.5 pips and I'm gaining 2+ pips per gain then my average win will be more than my average loss.
This works out better I can still scalp and have the math on my side. If I only have 60% accuracy I can still come out ahead.

For this type Of trading I would make my size based on 20 pips equals 1% or maybe 10 pips equals 1%. I really depends on market ranges.
There are other factors to consider with this method such as spread and leverage. It's tougher to do this with Oanda's 1.5 pips spread on the EURUSD.
Better suited to trade M5 for Oanda in my opinion.

What I've been unable to do until recently.
Use HTF for levels/setups and lower for entries.
Pretty amazing the RR that will be granted on small tf like m1 when looking at something of m15 or larger.

I've been using 2.5 to 4 pips stops on the M1 and M5 charts. The M15 and H1 allow for some 10+ pips moves. After I get 100 trades I'll be able to see my average RRR better.